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IRS Sets HSA/HDHP Limits for 2018 | August 10, 2017

On May 4, 2017, the IRS issued Revenue Procedure 2017-37, which provides the 2018 contribution and coverage limits for Health Savings Accounts (or HSAs) and high deductible health plans. The annual increases in HSA contribution levels are based upon cost of living adjustments and are effective January 1, 2018. Attorney Dan Kuperstein explains.

Video Transcript:
Hi, I’m Dan Kuperstein, and welcome to this episode of ComplianceMINUTE.

On May 4, 2017, the IRS issued Revenue Procedure 2017-37, which provides the 2018 contribution and coverage limits for Health Savings Accounts (or HSAs) and high deductible health plans. The annual increase in HSA contribution levels are based upon cost of living adjustments and are effective January 1, 2018.

So, what are the new limits?
The 2018 HSA maximum contribution limit for an individual with self-only coverage will increase to $3,450 (which is up from $3,400 for 2017). The 2018 HSA maximum contribution limit for an individual with family coverage will increase to $6,900 (which is up from $6,750 for 2017). HSA catch-up contributions, for those age 55 or older, remain unchanged at $1,000.

The IRS also clarified that the 2018 high deductible health plan out-of-pocket maximum limits will increase. Specifically, the maximum out-of-pocket limits for HDHPs for 2018 will be $6,650 for individual (or self-only) coverage (up from $6,550 for 2017) and $13,300 for family coverage (up from $13,100 for 2017).

Finally, both the minimum and maximum annual deductibles for HDHPs will increase in 2018 as well. HDHPs in 2018 will be required to have a minimum annual deductible of at least $1,350 (which is up from $1,300 in 2017) for individual coverage and at least $2,700 for family coverage (which up from $2,600 in 2017).

How is this different from last year? Well, in contrast to 2017, when only one of these amounts changed from the prior year, all of them are scheduled to increase for 2018. Additionally, the HDHP minimum deductibles are increasing for the first time since 2015.

Additionally, it should be noted that because the increases to the HDHP out-of-pocket maximums are larger than the increases to the HSA contribution limits, this will result in some individuals having to pay more out-of-pocket expenses without the benefit of the HSA tax break.

One important reminder or takeaway for employers is that it’s important not to confuse the HDHP’s maximum annual deductible limit with the Affordable Care Act’s (or ACA’s) cost-sharing maximum, as these are two separate dollar amounts and each has distinct compliance requirements.

For 2014, the HDHP and ACA limits were the same dollar amount, so the ACA limit appeared to have little independent significance. However, beginning in 2015, the limit amounts diverged, and the gap between them has continued to grow.

For 2017, the ACA cost-sharing limits are $7,150 for self-only and $14,300 for family coverage, while the HDHP limits are $6,550 for self-only coverage and $13,100 for family coverage.

For more information on this and other ACA topics, visit our Knowledge Center at corpsyn.com. Thank you.

Dan Kuperstein, Senior Vice President of Compliance, is an attorney with experience in a broad array of sophisticated employee benefits and labor and employment matters, including ERISA, the Affordable Care Act, COBRA, HIPAA and GINA compliance. His experience includes representation of both public and private companies and health and pension plans. Dan is a respected thought leader on Healthcare Reform and has published articles on the Affordable Care Act and other laws and regulations.

Did you know there is an alternative to paying State Unemployment Taxes that saves non-profits thousands? Think of it as a $50,000 donor walking through your door! Hear from 3 unemployment insurance experts.

The last few months have provided a whirlwind of activity around the ACA. Even though the ACA replacement bill failed to go to vote in the House, discussions & debates continue. For now, the ACA remains law, yet it is evolving. Some parts of the ACA will likely be transformed while other parts will likely die.

What will it mean for you? ERISA attorney and Healthcare Reform expert Dan Kuperstein will provide the legal interpretation and street-level guidance you need, including:

What went wrong with the repeal and replace initiative

The leading replacement plan – the AHCA

Compliance with the surviving ACA in 2017, its evolution and challenges

Why medical carriers are adding telemedicine to most fully-insured contracts

How telemedicine impacts claims for self-funded plans and how employees can benefit too

How education drives employee participation and understanding of what telemedicine can and cannot do

FMLA Law, Paid Leave & Upcoming Changes for NY Employers

Unum will present and discuss:

Family and Medical Leave Act (FMLA), including legal considerations for employers & risk of non-compliance

Administrative options & employer challenges with FMLA programs, as well as the link between FMLA and Short-term Disability programs

Potential ROI for administering & managing FMLA with Short-term Disability in a single administrative platform

The value of developing a more structured FMLA administration program

Upcoming 2018 New York Paid Family Leave Law

Lower Healthcare Costs up to 30% with Reference-based Pricing

Historically we’ve asked providers how much they need to perform a service, procedure or treat a medical condition, then we would negotiate a lower rate by promising more patients. But has that approach promoted less personalized service and a need for physicians to increase service volume? Did we trade quality for quantity? In this session, you will:

Understand the current billing system, negotiated discounts and allowed charges

Learn reference (or “metric-based”) pricing by calculating costs from a measurable price, rather than starting with a fictitious cost of service pricing system

Appreciate pitfalls and challenges in referenced-based pricing

Hear how conversations about fair pay to providers is taking place at every level, from government to individual providers

FMLA continues to be a top concern for HR, while the ADA has been called an “inadvertent leave act.” In this session, leave management expert Mike Garfield walks through complexities of both FMLA and ADA, trends in absences, and solutions for employers wishing to reduce impact to their organization. Attendees will learn:

Top trends in absences related to FMLA and ADA

Key questions to ask when considering outsourcing leave management

How to integrate other support programs to speed employee return to work

SUI Tax Relief for Nonprofits

ALERT: There is an alternative to paying State Unemployment Taxes that saves nonprofits thousands! Think of it as a $50,000 donor walking through your door. Unemployment insurance expert Ron Lucki from UC Assure explains.

Healthcare costs continue to push upward. This trend poses a significant financial challenge for employers in 2017 and in the years to come. Bill Resnick, Chairman and CEO, and Kristin Begley, Chief Revenue Officer of Pharmacy Benefits Manager EmpiRx Health, walk employers through the role of the PBM in the design of drug plans that manage spending while providing clinical care commensurate with patient need.

They discuss:

Inflationary factors impacting drug programs

The role of rebates, tradition pricing and pass-through pricing

New drugs entering the market place

Specialty drugs’ impact on escalating cost…and how to manage the trend